Alternative scenario: the upside breakout of 108.81 would call for 109.13 and 109.31.

108.81 is our pivot point.

Our preference: the downside prevails as long as 108.81 is resistance.

Alternative scenario: above 108.81, look for 109.13 and 109.31.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair is trading under both its 20 and 50 MAs (respectively at 108.61 and 108.63).

Our preference: the downside prevails as long as 108.83 is resistance.

Alternative scenario: above 108.83, look for 109.14 and 109.33.

Comment: the RSI is below its neutrality area at 50. The MACD is negative and below its signal line. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 108.61 and 108.73).

Alternative scenario: the upside breakout of 109.09 would call for 109.40 and 109.59.

Our pivot point stands at 109.09.

Our preference: under pressure below 109.09.

Alternative scenario: the upside breakout of 109.09, would call for 109.40 and 109.59.

Comment: the RSI is below 50. The MACD is below its signal line and
positive. The MACD must penetrate its zero line to expect further
downside. Moreover, the pair stands below its 20 and 50 MAs
(respectively at 108.84 and 108.85).

Comment: the RSI is above 50. The MACD is negative and above its signal line. The MACD must break above its zero level to call for further upside. Moreover, the pair is trading above both its 20 and 50 MAs (respectively at 108.49 and 108.51).

Our preference: the downside prevails as long as 108.48 is resistance.

Our pivot point stands at 108.48.

Our preference: the downside prevails as long as 108.48 is resistance.

Alternative scenario: above 108.48, look for 108.79 and 108.98.

Comment: the RSI is below its neutrality area at 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the pair stands below its 20 and 50 MAs (respectively at 108.34 and 108.48).